Wayward Financial Institutions Facing Increasingly Stricter Punishment
Weekly Brief: Lawyers Advised To Accept New Reality
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more
Some U.S. tech firms are finding ways to get around the White House’s Huawei no fly zone, with Micron, Qualcomm, and Intel leading the way...more
U.S. Financial Industry Developments - CFTC Reduces Risk for Customer Funds Held by Derivatives Clearing Organizations by Expanding Investment Options - On July 19, 2018, the Commodity Futures Trading Commission (the...more
In what can only be described as a Lazarus-like return, the Ex-Im Bank is reportedly nearly back on its feet again. The White House has chosen Kimberly Reed to helm the agency after prior nominee Scott Garrett was rejected by...more
CFTC Files Eight Anti-Spoofing Enforcement Actions against Three Banks (Deutsche Bank, HSBC & UBS) & Six Individuals - On January 29, 2018, the Commodity Futures Trading Commission ("CFTC"), along with the Department of...more
The Fed held its last Open Markets Committee meeting under outgoing Chair Yellen, and it agreed to hold the benchmark rate in a range between 1.25% and 1.5%. Here’s the lowdown....more
Coffee pod powerhouse Keurig Green Mountain is expanding its empire (and that of its parent JAB Holding Company) with the announcement of a $18.7 billion deal for the Dr Pepper Snapple Group. If approved by shareholders and...more
Financial Industry Developments - CFTC Proposes to Amend Rules Governing Chief Compliance Officer Duties and Annual Reports for Certain Registrants - On May 3, 2017, the U.S. Commodity Futures Trading Commission...more
Financial Industry Developments - Agencies Publish Study on Banking Activities and Investments under Dodd-Frank - On September 8, 2016, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more
Three Individuals Fined and Banned From Trading on CME Group Exchanges for Market Conduct Violations - CME Group business conduct committees permanently banned three traders from trading on CME Group exchanges for market...more
Charles Schwab Fined US $2 Million by FINRA for Net Capital Deficiencies: Charles Schwab & Co. agreed to pay US $2 million to the Financial Industry Regulatory Authority to resolve allegations that it had net capital...more
CFTC Commissioner Raises Ghost of HanMag Securities to Discuss Clearinghouse Risk Management Issues… Invoking the specter of the default of HanMag Securities Corporation on the Korea Exchange (KRX) last December...more
Bank of England Launches New Framework to Test for Cyber Vulnerabilities - On June 10, the Bank of England launched a new framework to help identify areas where the financial sector could be vulnerable to sophisticated...more
One by one global banks are being ensnared in the LIBOR prosecution net. Late last year UBS, the Swiss banking giant, entered into a massive settlement in which it agreed to pay approximately $1.5 billion in fines and...more
In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more